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One of the main advantages of buying a franchise is that you don’t have to spend a lot of effort introducing your p

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

roduct or service to the public. This alone can save you a lot of money in promoting your product to the public. Pe

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ople already know about the brand and as long as you have purchased a successful franchise, they will not care much

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

about who the owner or operator of the franchise business. This is to say buying a franchise is almost like buying

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

customers themselves.

Another advantage of purchasing a franchise is that you save a lot of time and heartache le

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

arning this the hard ways as practices and procedures would have been in place for years. Trainings are usually pro

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

vided to meet the standard and consistency across all franchise operators.

You and your staff are trained right fr

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

om the beginning in order to understand certain operating procedures from simple thing like making a sandwich until

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

complex one such as preparing a yearly executive report. Keep it mind that your customers come into your business

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

with expectation to receive the same quality of product or service they have been using.

The tough time in getting

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

your product known by customers is avoided as the company that sold you the franchise will provide the signage. Th

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

e advertising costs that you will have to spend is basically costs for something that already works. All you have t

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

o do is repeat the same strategy or methodology as the parent company has done for years.

Purchasing a franchise a

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

llows you to make your business by adopting someone else’s business model so you save the start-up costs and hassle

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

s that usually go hand in hand with starting a fresh business. Buying a franchise is an ideal opportunity for entre

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

preneurs who understand the ins and outs of a particular business but don’t want to invest much time building the b

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

usiness from the ground up.

Just like any other business, running a franchise business means that you are responsi

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

ble for the life of the business and the people who work for you. It is therefore important that you not only have

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

some cash to invest but also have necessary skills to make the business a successful one. There are skills that can

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

be developed by doing trainings and there are those who can only be experienced as you go along with the business.

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Have you ever sat down at the kitchen table with the day’s mail and started sorting it into piles? • bills (you always recognize those first!), • “to read” pile (that’s always the tallest), • stuff to go in the wastebasket (but that’s on the other side of the room), • papers to discuss with your significant other (who isn’t there at the moment), and finally...Taming the Paper Tiger at Home

You will always have a means of contact with strangers when you make use of business cards to advertise your business. You can hand them out to prospective customers wherever you are and passers by never object to taking one from you. This could be attributed to the fact that they are small and can be tucked into the recipients pocket or purse with ease.

Want to impress your customer? And sharpen your customer service skills? The customer service tips in this article should help you to create customer loyalty and subsequently - your customer service quality means repeat sales.

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